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1. Definition of the area and data structure
Actual location: In the DLD database, transactions for the Address The Bay building in more than 600 cases are unambiguously attributed to the Marsa Dubai area and the Dubai Harbour master project. It is semantically correct to use this area and master project as the zone for comparative analysis and benchmarking.
2. Volume and liquidity: sales and rentals
More than 600 apartment sale transactions in Address The Bay have been recorded since the project was handed over. No recorded sales of studio apartments (0BR) exist in the tower itself — most likely this layout type is absent, or such transactions were not registered as a separate category.
There are no registered long‑term rental contracts for Address The Bay in the DLD database. This is typical for new or prime waterfront buildings and/or assets predominantly used as secondary market stock, short‑term rentals, and/or where contracts are not formalised in the public registry.
Within the Dubai Harbour master project in Marsa Dubai there is very high liquidity in both the rental market (over 2,300 contracts) and the sales market (over 11,000 apartment transactions in total), which indicates sustained demand for the location.
3. Dynamics of the average price per m² by area and master project
For the Dubai Harbour master project in Marsa Dubai, where Address The Bay is located:
– The average price per m² for apartments in the 20–100 m² range over the last 12 months was about AED 39,600/m².
– There is a clear upward trend: starting roughly from 2022, prices for studios/1BR in Dubai Harbour accelerated from AED 26,500/m² to peak levels of AED 45,000–46,000/m² in Q3–Q4 2023, followed by a gradual decline to the current level (April 2024) of ~AED 41,000/m².
– In recent quarters, prices have consolidated at a high level, which stabilises buyer and seller expectations.
4. Dynamics of average rent per m² and yield calculation
There are no long‑term rental contracts for Address The Bay itself in the DLD, so benchmarking is only possible at the master‑project level.
In Dubai Harbour, in the Marsa Dubai area, the average rental rate per m² over the last 12 months was AED 2,085/m²/year. Over the last 2 years, the rate has increased from AED 1,650 to ~AED 2,300/m² (peak in Q4 2023), after which it also stabilised at AED 2,050–2,200/m².
5. Comparison of levels: purchase price and rent
Over the last 12 months:
– The average market purchase price for an apartment (studio/1BR) in Dubai Harbour is about AED 39,600/m².
– The average rental rate is AED 2,085/m²/year.
Sales and rentals in Address The Bay do not materially deviate from the overall picture of the master project. All dynamics are driven by market trends of strong price growth and high demand along the Dubai Harbour shoreline.
6. Yield (ROI) calculation and fair price range
– Current gross annual yield for the area: 2,085 / 39,600 ≈ 5.3% per annum.
– Adjusted for one‑off entry costs (DLD fee, brokerage, registration, vacancy), the actual net yield for an investor will be about 7% lower, i.e. around 4.9–5.0% per annum.
For an asset to generate a 7–8% yield for the investor at the current average rental rate (AED 2,085/m²), the fair investment purchase price for an apartment in this area would be in the range of AED 26,100–29,800/m². The current market level is significantly higher (AED 39,600/m²), which is typical for new prime locations where capital preservation and prestige take precedence over maximum income.
7. Brief conclusion for the investor
– Address The Bay is located in one of the most dynamic coastal areas in terms of demand and price growth, which ensures high market liquidity.
– Buying an apartment here is more of a capital‑preservation than an income‑maximisation strategy: at current market prices, ROI is below the classic investment benchmarks for Dubai (7–8%).
– For investors focused not only on yield but also on the premium nature of the location, resilient demand and long‑term capital appreciation, the asset remains attractive.
– For investors who are highly sensitive to the income component, the current market price implies an extremely high entry barrier and will not allow them to reach the desired 7–8% annual return without a substantial discount.
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